A – Dana Brown: Okay, so I think I missed one of the four. I got you know how the furlough impacts potential timeline valuation. I think I may have missed the very first one, and so
Per Ostlund : Just the thought around you know characterizing early discussions I guess.
A – Dana Brown: Okay, okay, great. So I’ll answer timeline and furlough and kind of characterizing the discussion and then Dan Shea, Interm CFO is online, so I’m going to pass the ball to him, so you’ll get to hear a different voice for a little bit and he can talk about what we’re thinking about valuation. So the furlough staff, you know we focused on ensuring that we could you know service and support existing customers and any new customers. So you know anything we can do to continue to help the business actually be accretive right in a strategic option is what we were focused on. You know the discussions are interesting, because I would say it’s a full spectrum from you know potential options that are really strategic, global in scale, to those that want to really just almost kind of restart a business around the technology and its IP.
So it’s a broad spectrum, it’s very interesting. I think it also speaks to just you know the breadth right, as the solutions that were created in this off business. As far as timeline, you know as soon as possible. You know we’re targeting a quarter to get far enough along through these conversations that one you know, we know the right next steps with the staff who were furloughed, as well as you know we’re able to ensure that services and support for customers continue to not miss a beat, so. And then I’ll pass it over to Dan if you want to talk about the valuation process and just our models for it.
Per Ostlund : Okay, great.
Dan Shea : Yes, thank you. I think the evaluation is going to depend of course on who we’re talking to, who’s the buyer; are they a strategic buyer or are they more of a financial buyer. I think the feeling is that what we have with Xoft is a pretty strong brand that is worth something different to a €“ to some buyers than others. It’s a strong product and it’s got a great name within you know the term circles and other you know modalities. So I think the valuation is just going to depend on who the buyer is and how they are going to use it. And as Dana said, it’s sort of something that we’re looking at pretty accurately. The timeline is €“ the furlough could be 90 days, because 90 days is sort of €“ the feeling that it’s you know, sort of to pump the breaks a little bit, you know save some money and run a process that’s efficient and you know commands a value that’s commensurate with the brand.
Per Ostlund : Okay, that all sounds good, all sounds logical. I will turn over the floor. Thanks.
A – Dana Brown: Thanks.
Operator: Thank you. I’d like to let our audience know that we also have Dan Shea, Interim CFO on the line for questions. Your next question is coming from Marie Thibault from BTIG. Your line is live.
Marie Thibault: Hi Dana! Hi Dan! Thank you for taking the questions this afternoon. I wanted to pick up on where Per left off on the Xoft business and just see if I can drill a little bit more in on your outlook near term for that business. I certainly understand that the service revenue ought to hold up given €“ you know installed base in that being a recurring revenue model. But curious if we should expect product revenue that’ll just sort of be flat from where it was in 2022. How to think about that? I’m certainly a little bit concerned that with some of the furloughs and certainly the announced possibility of a sale that you know the workforce may not be quite as motivated. So how would you have us thinking about that near term therapy revenue from the product side?
A – Dana Brown: So hi Marie! This is Dana. So I’ll answer a few comments and then I’m going to turn it over to Dan. The first thing I want to say and I’ve only been onboard a short while, but that Xoft team is amazingly committed. Extremely passionate about the product, the research work that they are doing. You know we just got some additional data studies right, that again you know proved just the distinctiveness and competitiveness of it. So we didn’t underestimate the power of a small but mighty team, right, that’s continuing to manage that business. You know, as you mentioned, that business has a high percentage of reoccurring revenue, you know somewhere 60%, 65%. So you know we were able to take that into account with our reductions to make sure you know they were able to service and support right, the customers that we have. Dan, I’m going to turn it over to you if there’s some additional comments you’re going to make for Marie’s question.
